BIS Innovation Hub
Nexus - Short ReportAbout the BIS Innovation Hub
  • Introduction
    • Nexus Overview
    • How to use this site
    • Overview Report
    • Terminology
  • Payment Setup
    • Key Points
    • Scope of Nexus payments
    • Steps 1-2: Country, Currency & Amount
    • Steps 3-6: Exchange Rates
    • Steps 7-9: Addressing, Proxy Resolution & Confirmation of Payee
    • Steps 10-11: Sanctions screening
    • Step 12: Ask the Sender for approval
    • Step 13-16: Set up and send the payment instruction
    • Step 17: Accept the confirmation and notify Sender
  • Addressing & Proxy Resolution
    • Key Points
    • Overview of Payment Addressing in Nexus
      • Addressing via Proxies (Aliases)
      • Addressing via Account Details
    • Address Types & Inputs
      • Address Types
      • Address Inputs
      • Financial Institution Identification
      • List of PSPs
      • Examples
    • Proxy & Account Resolution Process
      • Step 1: Sender inputs proxy or account details
      • Step 2: Proxy Resolution Messaging Sequence
      • Step 3: Account Resolution Messaging Sequence
      • Step 4: Source PSP processes the results
      • Masking of Display Names
    • Role of the Proxy Directory Operator (PDO)
      • Obligations on the Proxy Directory Operator
      • Obligations of PSPs using the Proxy Directory
      • Onboarding a Proxy Directory Operator onto Nexus
  • FX Provision
    • Key Points
    • Role of the FX Provider
    • How Third-Party FX provision works in Nexus
    • Joining Nexus as a third-party FXP
    • Accessing Instant Payment Systems
    • Onboarding PSPs
    • Obligations & Compliance
    • Revenue model for FXPs
    • Rates from Third-Party FX Providers
      • Improving rates for larger transactions
      • Improving rates for specific PSPs
    • Quotes
    • Managing Liquidity
  • Payment Processing
    • Key Points
    • Accounts & Relationships
    • Maximum value of a Nexus payment
    • Payment Flow (Happy Path)
      • Detailed Flow in Source Country (Sending)
      • Detailed Flow in Destination Country (Receiving)
      • Booking flow for Source PSPs
      • Notifying FXPs of completed payments
    • Validations, Duplicates & Fraud
    • Time critical vs non-time critical payments
    • Special Scenarios
    • Payment setup for PSPs who provide their own FX
    • Unsuccessful Payments (Exceptions)
      • Rejects
      • Recall Requests
      • Returns
      • Investigation & Enquiry
      • Disputes
      • Reconciliation reports
    • Fees
    • Role and responsibilities of the Instant Payment System Operator (IPSO)
    • Ensuring settlement certainty
    • Annex: 4-step vs 5-step Processes in Domestic Clearing and Settlement
    • Annex: Sponsoring PSPs and Sponsored Entities
  • Settlement Access Provision
    • Key Points
    • Role of the Settlement Access Provider (SAP)
    • Joining Nexus as an SAP
    • SAP onboarding of FXPs (or foreign PSPs)
    • Costs and Revenue for SAPs
    • Obligations on the SAP
    • Processing payments as an SAP
      • Payment Process for the Source SAP
      • Payment Process for the Destination SAP
      • How the Destination IPS initiates the payment via the Destination SAP
    • Managing Liquidity as an SAP
  • Messaging & Translation
    • Key Points
    • General Usage of ISO 20022
      • Adherence to CPMI Harmonised ISO 20022 Data Requirements
    • Compatibility with Instant Payments Plus (IP+)
    • Message transformation by Nexus
    • Specific Message Elements
    • Purpose Codes
    • Message Guidelines (Excel)
    • MESSAGE acmt.023 Identification Verification Request
    • MESSAGE acmt.024 Identification Verification Report
    • MESSAGE: pacs.008 FI to FI Customer Credit Transfer
      • pacs.008 Differences from CPMI Harmonisation Requirements
    • MESSAGE pacs.002 Payment Status Report
      • pacs.002 Differences from CPMI/CBPR+ Guidelines
    • MESSAGE: pacs.004 Payment Return (Not yet supported)
    • MESSAGE: camt.054 Bank to Customer Debit Credit Notification
    • Translation To/From Domestic Message Formats
    • Translating To/From ISO 20022 Codes
  • APIs
    • Overview
    • Countries
    • Currencies
    • Address Types and Inputs
    • Financial Institutions
    • Fees and Amounts
    • Intermediary Agents (SAPs)
    • Quotes
    • ISO 20022 Messages
  • About
    • Contact the Nexus Team
  • LEGAL
    • Terms and Conditions of Use
    • Privacy Notice
    • Cookies Notice
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  1. Addressing & Proxy Resolution
  2. Address Types & Inputs

Address Inputs

In Nexus, each address type includes one or more address inputs. For example:

  • An IBAN has only one address input (the IBAN field), because the IBAN itself combines information about the country, Financial Institution Id and Account Id.

  • An ACCT will require two inputs: the Account Identification itself, plus a Financial Institution Identification such as a BIC (BICFI) or non-BIC Clearing System Member Id, such as sort code, routing number etc.

  • A proxy normally requires only one input – the proxy identifier (such as a mobile phone number)

In some cases, such as the Philippines, a Financial Institution Identification must also be provided for each proxy (as the same proxy may be registered to multiple financial institutions in the Philippines).

The Nexus APIs provide a list of the address inputs in a format that can be used by a PSP’s client application to dynamically generate the addressing form. Each input is defined in terms that are agnostic to programming frameworks (eg they are similar to common HTML attribute definitions), as shown in the table below.

The Nexus APIs also return some “hidden” inputs such as the account type code. These are fixed (ie not set by the Sender) and inform the Source PSP’s app how the address type should be processed. In some cases, the hidden information must be included in the acmt.023 message (such as the address type code when a proxy is used).

TABLE: Address Input structure

ELEMENT

SUB ELEMENT

FORMAT

USAGE

Label

Code

Text

Same as the Address Type code or Financial Institution Identification Type code above. E.g. MNBO, ACCT, IBAN

This code can be mapped to the app user’s language.

Title

Map, where key is the 2-letter language code (eg “en”) and the value is the explanatory title

Further description that can be used to guide the Sender, to be used in a tooltip or explanatory text below the input form.

A description in English (“en”) should always be provided. PDOs may choose to add additional languages based on the likely language of Senders to that country. (For example, countries may wish to add the languages of their closest trading partners and remittance corridors.)

For example, for a proxy type NIDN (National Identify Number) for Singapore, the description may be “NRIC/FIN” – two national identity number types)

Attributes

Name

ENUM: accountIdOrProxyId, addressTypeCode, finInstId

Suggested name of the form element that takes the input from the Sender. (Note: addressTypeCode would be a hidden input that is not visible to the Sender.)

Note: this is NOT the name of the input type that should be shown to the Sender – for that, see Label.Code

Type

Valid HTML input “type” attribute

Describes the type of HTML input element, eg text, tel, number, email

Pattern

Regular expression

Used to validate the form. (For email, this should be null, relying on the browser or app’s default email validation instead.)

Placeholder

Text

An example value that can optionally be shown in the input element before the Sender begins to enter information

Required

true/false

Whether this input is required or optional. (Currently all inputs are set to required. Optional inputs may be used in cases where a comparison model of account resolution is used, in which the Sender can optionally provide information about the Recipient that would be compared by the Destination PSP against their own verified records.)

ISO 20022 Path

(Code of the message type without the dot e.g. “acmt024”)

Text

The XPath to the position in an ISO 20022 message where this information can be used. Multiple message types may be specified, depending on whether proxy resolution is required first, or whether the input can be used directly in the pacs.008 payment instruction.

NB: The message name is defined without the period/dot character “.”, because the dot character is used in JavaScript to refer to properties of a JSON object (eg “attributes.name”).

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Last updated 10 months ago